Ben Stein: Bailout the beginning of socialism

Hollywood actor and conservative star Ben Stein is no fan of the Wall Street bailout, and tells my colleague, David Eldridge, it’s the beginning of American Socialism.

“This deal is a rotten, stinking deal,” he said. “Once again, the government is the mommy and they’re asking the mommy to come in and save a bunch of spoiled children who went around looting and stealing.”

What’s more, he’s doubtful the proposed bailout solves the crisis: “The problem is not liquidity, it’s solvency. Banks are afraid to put any money out there because they’re afraid the economy is going to tank. That’s not a threat the government can solve with more money — there’s already plenty of money in the system.”

“This is just the beginning of a socialist America. George Bush is going to be remembered as the president who presided over this. I don’t blame Bush, he’s a wonderful man, but I do blame Henry Paulson. He could have prevented all this with the stroke of a pen. Saving Shearson Lehman could have stopped all this.”